India Blocks 15 Crypto Apps Amid Non-Compliance Notices
India has taken steps to block access to 15 cryptocurrency apps in the country, following non-compliance notices issued by the Financial Intelligence Unit (FIU-IND). The move affects services such as Weex, Blofin, Rezorex, Bitunix, DigiFinex, and Toobit, among others.
The FIU-IND has ordered the takedown of these apps and URLs under India's information technology law and intermediary rules. This does not necessarily mean that users will lose access to their funds or accounts, but it may restrict public access to the platforms.
The 15 services were operating in India without meeting relevant requirements under the Prevention of Money Laundering Act. The FIU-IND has given no common remediation deadline for the companies to comply with registration and reporting obligations.